Global shares gain as fears of U.S.-China trade war ease

Yuri Kageyama, The Associated Press</span>
Published Tuesday, March 27, 2018 7:23AM EDT

TOKYO -- Global shares rose Tuesday as news that the U.S. and China are open to negotiating to avert a trade war put investors in a buying mood.

KEEPING SCORE: France's CAC 40 rose 1.1 per cent in early trading to 5,123.03. Germany's DAX added 1.3 per cent to 11,945.38. Britain's FTSE 100 climbed 1.5 per cent to 6,994.96. U.S. shares were also set to drift higher with Dow futures up nearly 0.6 per cent at 24,324. S&P 500 futures added 0.5 per cent to 2,672.80.

ASIA'S DAY: Japan's benchmark Nikkei 225 gained 2.7 per cent to finish at 21,317.32 as a weaker yen also boosted buying sentiment. Australia's S&P/ASX 200 added 0.7 per cent to 5,832.30. South Korea's Kospi jumped 0.6 per cent to 2,452.06. Hong Kong's Hang Seng advanced 0.8 per cent to 30,790.83, while the Shanghai Composite index rose 1.1 per cent to 3,166.65.

CHINA FACTOR: The fears of worsening trade tensions eased after China's government said it is open to negotiating with Washington. That announcement followed a news report indicating that U.S. officials have submitted a list of market-opening requests.

THE QUOTE: "Risk sentiment improved as US and China remain huddled in talks over tariffs, downplaying recent concerns over a tit-for-tat trade war," Jingyi Pan of IG said in a commentary.

ENERGY: Benchmark U.S. crude added 13 cents to $65.68 a barrel in electronic trading on the New York Mercantile Exchange. It fell 33 cents to $65.55 per barrel on Monday. Brent crude, used to price international oils, gained 14 cents to $69.66.

CURRENCIES: The dollar rose to 105.48 yen from 105.41 yen late Monday. The euro inched down to $1.2464 from $1.2448.

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